5 Home Upgrades that Boost Property Value

Let’s face it: Selling a home is stressful. 

You’re balancing financial decisions, planning a major move, and saying goodbye to a space where you’ve made memories. 

On top of that, you’re also likely facing a few upgrades to get your property market-ready. And where to begin? Does it make sense to remodel your bathroom, or is it a better investment to refurbish your wooden floors?

Take some of the stress out of the sale process by learning which home upgrades boost property value. Plus, find out why doing the work makes a difference.

Do pre-sale home improvement projects make a difference?

If you own a home, then you’ve been in the shoes of someone about to buy one. You remember what it’s like to pull up to a property you’re excited about and hope that it meets – or, better yet surpasses – your expectations. 

You might have also experienced the disappointment of visiting a promising property only to realize it needed a ton of work. That sensation is overwhelming, and it’s a non-starter for many homebuyers. A market-ready, turnkey home is an easier sell.

But before you start drafting an extensive renovation strategy, consider this: Not all upgrades boost property value. Research shows, for example, that a homeowner will likely lose money on a major kitchen remodel. 

So, it’s important to ask, “What kind of upgrades make a difference?” You don’t have to take on a complete renovation. A few, high-reward updates are the way to go. Use the following tips to get you started:

• Calculate ROI (return on investment): Research how much the resale value of your home stands to increase if you do a certain renovation. Suppose you plan to repaint your house, and doing so costs you $5,000 but will boost the sale value by $8,000. That paint job is a sound decision.

• Don’t over-personalize: You may like the look of floral wallpaper but others could have a different take. Buyers may view too custom home renovations as something they must tear out and redo.

• Get up to code: If your area has strict housing codes regarding plumbing, roofing, or electrical, build upgrades to these aspects of your home into your renovation budget. You’ll save a potential buyer the headache of making these adjustments when they should instead be settling into their new space.

• Talk to your real estate agent: Realtors are experts on the local market and what buyers want. So, they have invaluable advice about which renovations are worth doing because they’ll attract prospective buyers and which might turn them away (like adding a swimming pool or putting in high-end marble kitchen countertops). These real estate professionals can also help you pinpoint minor, but high-value changes like re-organizing your spaces or repainting in a neutral hue.

5 home improvements to increase property value

So, you’re ready to fix up your listing, but you don’t know exactly where to start. The good news is that there’s plenty of research and hard-won lessons on which renovations pay out. The following five home improvements generally up a home’s value.

1. Curb appeal - Your home only gets one opportunity to make a first impression, so investing in exterior renovations is a wise choice. Improve the aesthetics of your home with the following four upgrades:

   • Siding 

     Replacing vinyl siding gives your home a near-instant refresh. And it’s a worthy investment. Sources show that a siding replacement will almost fully pay for itself when you sell your home.

   • Stone Veneer

     Manufactured stone veneer can add a trendy touch to your property, making it look more refined. Adding this  ‘upscale’ element to your home helps make a winning first impression.

   • Landscaping

     Make your home look cared for and vibrant by mowing the lawn, trimming shrubs, and planting perennials. This is a low-cost upgrade, as you can do a DIY refresh or have a professional transform the landscape on a budget.

   • Front door replacement

     An entry-door revamp is another affordable upgrade that increases your space’s curb appeal. Even a simple paint job has the potential to revamp the look of your home’s exterior. You might also consider installing a premium digital entry system with a camera and doorbell—an add-on that improves the safety of your property.

   

2. Bathroom updates - Tearing up your bathroom and starting from scratch is a costly headache (especially if you’re planning to sell and won’t be around to enjoy your newly renovated home spa). But basic bathroom updates can transform the aesthetics. Repainting bathroom walls, installing a contemporary sink or fixtures, and staging the space with new towels are quick and easy ways to get it ready for viewers.

3. A fresh coat of paint - The benefits of applying a new coat of interior paint are twofold: walls end up looking fresh and clean, and you get an opportunity to shift the color scheme of your space. Choose hues that work well with your home’s palette and aren’t so bold or unique they could turn off potential buyers.

4. Energy-efficient upgrades - So, you’ve converted your HVAC to be more energy-efficient, and that’s a great first step. Continue down the path of sustainable upgrades with the following:

   • Smart light fixtures or thermostats 

     Smart lights and thermostats control energy use, making homes more sustainable and lowering utility bills—a strong selling point for buyers.

   • Window replacement

     Upgrading to EnergyStar windows helps keep heat in and cold out. Plus, your home will get an aesthetic boost as a result of the new windows, too.

   • New appliances

     Instead of remodeling your entire kitchen, swap outdated appliances for energy-efficient models. A more contemporary refrigerator or stove does a lot to upgrade the appearance of the space, too.

5. Refurbish wooden floors - The New York Times reports that buyers looking for a turnkey property expect to find recently refurbished hardwood floors. They’re scared off by the implied work of getting floors sanded and polished before move-in day. That same report also cites the importance of floors as an aesthetic element in the home. They’re the “grounding element in the composition,” meaning recently-polished floors can give a space some ‘glow up.’ So, it’s wise to get wooden floors refurbished before going to market—even if it means sticking your furniture in storage for a couple of weeks.

Ready to upgrade your home? Finance your project wisely

You stand to earn more on a sale if your home is market-ready. Making a few, high-ROI upgrades can make a big impact, helping your house look and function its best. Work with a top-notch real estate agent through Titus, and gain insights on how to improve your property and add value from a professional.

You’ll also gain exclusive access to a unique loan for renovations by working with one of Titus’s partner agents: a closing line of credit (CLoC). Credit lines of up to $25,000 are zero-interest and you pay nothing out-of-pocket. Learn more at gotitus.com.